Personal Tax Planning

House of Commons Re-Opens Probe Into Tax Sham

The Canadian government recently announced plans to pursue the collection of taxes from ultra-wealthy Canadians who may be hiding assets in shell companies located in the Isle of Man in order to avoid paying taxes or alternatively to shelter them from creditors, such as former spouses. A story recently published by the CBC states that a long-dormant parliamentary probe into the tax shelters, involving the accounting firm KPMG, is going to be… Read More

Corporate Tax Planning

Gates Divorce Leaves Plenty Of Questions

When it comes to the ultra-rich, few people can imagine the kind of wealth that Bill and Melinda Gates hold. The couple, who recently announced their plans to divorce, are two of the richest people in the world, and their philanthropic endeavors have changed how the wealthy give back. However, their split may change all that. A $130 billion fortune It’s almost hard to fathom just how much money the Gates have, with much of… Read More


US Tax Court Rules On Value Of Michael Jackson’s Name And Likeness

Nearly 12 years after the death of Michael Jackson, a US Tax Court has ruled on the value of the late pop star’s name and likeness. The dispute arose between Jackson’s estate and the Internal Revenue Service. The two parties had vastly different views about the value of Jackson’s name and likeness, particularly as a result of the allegations he faced of sexual molestation. A huge gap in estimated values The decision, which was… Read More

Sports & Entertainment

Breaking Down Major League Rookie Salaries

The NFL wrapped up the first night of its draft on Thursday, with the second round set to take place this evening. Those fortunate and talented enough to have been selected in the first round are facing a life-changing opportunity both in their sport and financially. We thought this would be a good opportunity to explain how NFL rookie contracts work and how they compare to the other major sports. NFL rookie salaries explained The… Read More

Corporate Tax Planning

United States and Canada Announce New Plans To Tax Wealth

It has been a big week for tax news on both sides of the United States and Canadian border. The Canadian government has tabled its proposed 2021 federal budget, while in the United States, President Joe Biden has signaled his desire to implement a higher tax on the wealthy in order to bring in more revenue. We wanted to take a moment this week to cover some of those changes. Tax implications of Canada’s federal… Read More